Smart speakers are taking sales away from smartwatches and other wearables

Smart speakers are taking sales away from smartwatches and other wearables
A new report from research firm eMarketer notes that wearable technology, including smartwatches, has yet to catch on with the public. One of the reasons, according to the report, is that smart speakers have become the hot new tech product and are much more affordable than an intelligent timepiece. The report notes that consumers have yet to find a reason why they should purchase a smartwatch since in many cases, they can cost as much as a new smartphone.

Wearables growth continues to disappoint analysts. Back in 2015, eMarketer forecast that among U.S. adults, sales of wearables would rise 60% in 2016. The actual number was 24.7% For 2018, the research firm sees growth in wearables dropping off to 11.9% and then falling into single digits for 2019 and subsequent years. Analyst Cindy Liu of eMarketer says that any growth in this category will come from new smartwatch users. She says that the problem is that there is a lack of a "must-have" product in the category, which is still dominated by health and fitness trackers.

While 77% of the adult population in the U.S. carry a smartphone, only 20% of adults in the states wear a smartwatch. Will it take the launch of AR glasses to shake up the wearables category? That device could be two to three years away from meeting the light of day.

via BusinessInsider

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